Chery has announced a $6,000 discount on its Omoda E5 electric SUV, reducing the entry price to $36,990 before on-road charges. The cut places the Omoda E5 BX at or near the bottom of the price ladder for electric SUVs in Australia, surpassing some states’ drive-away price for the MG ZS Excite at $39,990. The move comes amid slowing sales and intensifying competition in the local EV market, particularly at the budget end.
Chery’s decision follows a broader trend of price warfare in 2024-25, with buyers benefiting from incentives across several models. Earlier this year, Nissan pivoted its Leaf price from $50,990 plus on-road costs to a $34,990 drive-away deal. In addition, BYD has flagged the Dolphin Essential at $29,990 plus on-roads for a March arrival, while the GWM Ora hatchback sits at $33,990 drive-away and MG4 Excite 51 at $34,990 drive-away. On the SUV side, the BYD Atto 3 Essential is listed at $39,990 plus on-roads.
Chery’s Omoda E5 has not been a strong seller since its September 2024 launch, with just 197 units shifted to date. At its launch, industry observers questioned the E5’s pricing, arguing it placed it too close to established rivals such as the Hyundai Kona Electric (from about $54,000) and the Tesla Model 3 (from about $54,900). The E5 ships with a single front-mounted electric motor producing 150 kW and 340 Nm, a 61.1 kWh battery, about 430 km of claimed range, and a maximum DC fast-charging rate of up to 80 kW. Chery says the $6,000 cut is a limited-time offer designed to boost uptake.
MG’s earlier price slashes in September-October 2024-dropping the MG4 Excite 51 to $30,990 drive-away nationwide-showed that price reductions can lift demand even if margins suffer. For SUVs, the Omoda E5 BX now leads the field in some states, undercutting the MG ZS’s $39,990 drive-away price. However, on-road costs vary by state, which can affect the final drive-away price.
State-by-state snapshot (approximate drive-away figures before on-roads
- Queensland: Omoda E5 BX at about $39,480 to drive away
- Australian Capital Territory: about $39,004
- New South Wales: around $40,300
- Victoria: around $40,527
The EX variant also benefits from the $6,000 reduction, now listed at $39,990 before on-road charges. This price positioning will likely heighten competition throughout 2025 as more Chinese brands expand their Australian footprint.
Conclusion
The current round of price cuts underscores a shifting Australian EV market, where price sensitivity and model availability are shaping consumer choice more than ever. As more budget-friendly EVs land and existing models see discounts, buyers stand to gain, but automakers must balance volume with margins. Expect further pricing activity in 2025 as brands vie for a larger slice of the growing EV suv and hatch segments.
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